Mahdia Gold Corp MHGPF

NEWS

[causa]

Mandorin Queensland garnets twin to South Africa Mandorin Goldfields Inc MGD Shares issued 54,830,899 Mar 17 close $0.115 Thu 18 Mar 2004 News Release Mr. Malcolm Stevens reports MANDORIN-DIAMOND SEARCH: PROSTON-BRIGOODA TARGET AREA GARNETS CHEMICALLY IDENTICAL TO SOUTHERN AFRICAN GARNETS FROM GEM QUALITY DIAMOND LOCATIONS Mandorin's Proston-Brigooda target area garnets chemically identical to Southern African garnets Analytical confirmation by Ken Collerson (the developer of KDC Endeavour and chairman of Mandorin's technical advisory panel) confirms that magnesium-rich garnets from the target Proston-Brigooda area, in Queensland, contain several very high-pressure mineral phases (including majorite, a Silica-rich high-pressure garnet) and these are chemically identical to garnets from the following Southern African kimberlites. Mr. Collerson has just reported electron microprobe analyses of garnets from: Orapa kimberlite in Botswana, and Lekkerfontein, Frank Smith and Kaalvallie kimberlites in South Africa, and he confirms that they contain very high-pressure mineral phases (including majorite). These high-pressure phases are chemically identical to mineral inclusions in magnesium-rich garnets from the company's Proston-Brigooda target area in Queensland. These Southern African locations yield gem-quality diamonds. The presence of these very-high-pressure mineral phases (including majorite) is important because these minerals are formed in the diamond stability field. These new analytical results from the South African kimberlite pipes strengthens the scientific body of work supporting KDC Endeavour and adds considerable additional support to KDC Endeavour as a gem quality diamond exploration tool. 70 first-pass targets at Proston-Brigooda region alone Following identification, by KDC Endeavour, of the Proston-Brigooda region as a target location for gem-quality diamonds, Mandorin conducted aeromagnetic interpretation and this resulted in Mandorin making application for seven exploration permits covering 802 square kilometres. Within this area final analysis of the first-pass selection program has identified 70 targets (33 being first priority, 25 being second priority and 12 being third priority) having discrete magnetic anomalies with characteristics consistent with kimberlite or lamproite intrusive sources. Confirmation has been received that to date, six of the seven applications are proceeding to grant, with the seventh expected in the immediate future. In excess of 10 identified globally KDC Endeavour has to date identified in excess of 10 target locations globally. Proston-Brigooda first area to be explored The Proston-Brigooda location will be the first of a number of locations to be explored, sampled and drilled in Australia. Exclusive licence Mandorin has an exclusive worldwide licence to commercialize KDC Endeavour. Exercise of staff options As previously advised (see news in Stockwatch dated Jan. 5, 2004) 4.2 million staff options due March 16, 2004, have been exercised at 10 cents per share. This completes the conversion of all options due on March 16, 2004. WARNING: The company relies upon litigation protection for "forward-looking" statements. (c) Copyright 2004 Canjex Publishing Ltd. https://www.stockwatch.com Click here for company snapshot: https://new.stockwatch.com/swnet/utilit/utilit_snapsh_result.aspx?action=go®ion=C&symbol=MGD Click here for recent SEDAR documents: https://new.stockwatch.com/swnet/newsit/newsit_sedar_result1.aspx